Red Dot Payment gains investment in Series B round

Red Dot Payment, a Singapore-based payment gateway startup, has inked USD 5.2 million Series B round to expand the business across Asia.

Founded by a team of ex Visa and Mastercard executives, the company is backed by GMO Venture Partners from Japan, Wavemaker Partners, Skype co-founder Toivo Annus and MDI Ventures.

New investor DORR Group also took part. The startup previously raised an undisclosed Series A and took investment from Indonesia-based operator Telkomsel.

Apart from offering online payments through a gateway, Red Dot offers online invoicing, recurring payments, and alternative payments. It also works directly with clients for specialist requirements, and has dedicated products for hotels and the hospitality industry.